Card Factory financial chief to exit firm with £40,000 golden parachute July 25, 2022 Card Factory financial chief Kris Lee is set take away a £40,000 golden parachute after stepping away from his position at the Wakefield headquartered card seller Lee, who joined Card Factory in 2017 following a more than five-year stint as group finance director at The Edinburgh Woolen Mill Group, will be paid £40,000 in compensation [...]
Factories braced for energy rationing this winter amid fears Russia could turn off the taps July 3, 2022 Energy rationing could be on the cards this winter, with British factory owners suffering constraints to their energy supplies.
The City View: Michael Hewson on why calls for a windfall tax are misplaced May 3, 2022 Today Andy Silvester talks to Michael Hewson, Chief Market Analyst at CMC Markets. They pick apart the arguments for a windfall tax on BP, discuss potential rate rises from the Fed and Bank of England, and go through the impact that China’s zero-Covid policy has had on manufacturing in the country. And in other news [...]
Card Factory posts revenue growth thanks to store recovery and occasion boom May 3, 2022 Card Factory posted 28 per cent revenue growth this morning to £364.4m thanks to the steady recovery of stores following the easing of lockdown restrictions, alongside an online performance significantly ahead of pre-pandemic levels.
Card Factory warns of lower profits this year as inflation bites January 13, 2022 Card Factory has warned shareholders of lower profits this year due to rising inflation in the UK, which sent its share price into the red. The “significant inflationary headwinds” facing the card maker has already seen it hike prices while it focuses on making the business more efficient. However, the London-listed company cautioned that, despite [...]
From price inflation and Brexit rows to Evergrande and Biden v Putin: Here are the market risks to watch this year January 4, 2022 The world is a pretty turbulent and unpredictable place at the moment, with Covid variants not making life easier. From tensions between Russia and the US over Ukraine’s NATO membership to Brexit conflicts and China’s Evergrande property scandal, 2022 is set to become everything but dull. So what developments and issues could disrupt or disturb [...]
Green spending has become a stalemate between the Treasury and private capital October 25, 2021 If a four-pack of toilet rolls costs £2, but an eight-pack costs £3.5, is it sensible to keep buying the smaller pack? What if you want a pack that costs more, say £10? You’ve only got £2, but your better-off flatmate has £8. They’ll spend if you do, but won’t if you don’t. Is it [...]
Kwarteng says there are no plans for energy price cap for businesses : CityAM October 10, 2021 Kwasi Kwarteng has suggested he will not be implementing an energy price cap for businesses, despite warnings from the private sector that many manufacturers could go bust without one. The business and energy secretary said he was “talking all the time with industry about what the best way forward is”, but said an energy price [...]
Card Factory sees strong performance in H1 2021, but still turns a loss September 28, 2021 Card Factory has seen revenue surge during the first six months of the year, but the greeting cards retailer still ended up in the red. EBITDA surged by 202.6 per cent, reaching £23.6m in the first half of the year, while revenue jumped by 16.3 per cent year on year to stand at a healthy [...]
Rolls-Royce finally gets Norwegian unit sale across the line with £54m Langley deal August 4, 2021 FTSE blue-chip Rolls-Royce has agreed to sell Bergen Engines, its Norwegian maritime engine manufacturing arm, to UK engineering group Langley Holdings with a new price tag of €63m (£53.6m). Rolls-Royce will retain €110m (£93.6m) from the sale – €70m from the transaction in addition to €40m Bergen currently holds in cash. This is in line [...]